AUD/JPY may fall 66 - 87 pips

Our pivot point stands at 104.69.

Our preference

Under pressure below 104.69.

Alternative scenario

Above 104.69, look for 105.06 and 105.28.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 104.43 and 104.36).

Supports and resistances

105.28 **

105.06 *

104.69 **

104.55

104.30 last

103.64

103.43 **

103.21 *

103.00 **

Number of asterisks represents the strength of support and resistance levels.